Wednesday 30 May 2012

Want to work out how much our energy will cost?

Want to work out how much electricity will cost with different types of energy? A wind trade body has created an online calculator it claims can do just that.

The European Wind Energy Association’s tool calculates the cost of electricity for gas, coal, nuclear, onshore and offshore wind. It says this includes any fuel and carbon risks.

Users can type in their own guesses, for example, of coal and gas prices, future carbon costs, capital costs and availability.

Unsurprisingly, when the wind trade body’s calculator compares onshore wind and coal for the year 2010, it predicts costs for 2020 will drop from €65.7 per MWh to €58.2 for wind while coal will cost €82.5 – up from €69.

The tool also calculates the price of offshore wind energy will drop by 2020 €75/MWh.